What is Aster DEX?

Aster DEX is a next-generation decentralized perpetual exchange born from the 2024 merger of Astherus and APX Finance. It offers deep on-chain liquidity, one-click trading, and advanced tools for professional traders. The platform features two trading modes: Pro Mode with a full order book interface and low fees, and 1001x mode, providing on-chain, MEV-resistant one-click perpetuals.

The platform supports major networks including Ethereum, BNB Chain, Solana, and Arbitrum, with spot trading fees at 0.10% maker and 0.04% taker, and perpetuals at 0.035% maker and 0.01% taker. While spot trading is limited, offering 8+ crypto pairs, perpetuals cover 93+ contracts, including crypto, forex, and stocks, with up to 100x leverage.

Purpose of Aster DEX

Aster DEX aims to make trading simple and powerful, supporting spot trading (token swaps), perpetual trading (leveraged futures contracts), and 1001x degen trading. The high-leverage 1001x mode, covering only BTC and ETH pairs, carries a risk of rapid liquidation, so starting small with proper risk management is recommended.

How to Use Aster DEX?

Depositing and withdrawing on Aster DEX requires attention to the correct wallet address and network due to its decentralized nature.

Before You Start:

• EVM-Compatible Wallet: A wallet like MetaMask that supports Ethereum, Arbitrum, BNB Chain, and Solana.

• Funds in Web3 Wallet: Direct fund transfers to Aster DEX are not possible; connect a wallet and use the platform’s deposit function.

Click here to open an Aster DEX account at a discount and benefit from the opportunities.

Depositing to Aster DEX

1. Open your browser and visit the official site.

2. Click the “Connect Wallet” button in the top-right corner to link your wallet.

3. Press the “Deposit” button.

4. Select the Perpetual or Spot account.

5. Choose the correct network and token (e.g., BNB Chain and USDT for USDT on BNB Chain).

6. Enter the amount to deposit and click “Deposit.”

Once the transaction is approved, funds move from your Web3 wallet to Aster DEX, becoming available for trading. Aster DEX charges no extra deposit fees; only network fees apply, varying by blockchain.

Withdrawing from Aster DEX

1. Click the “Deposit” button in the top-right corner.

2. Switch to the “Withdraw” tab in the pop-up window.

3. Select the account holding your funds (Perpetual or Spot).

4. Choose the network and token for the transfer.

5. Enter the withdrawal amount and click “Withdraw.”

Transferring Funds Between Aster DEX Accounts (Spot to Perpetual)

1. In the Aster DEX Spot interface, scroll to the “Account” section below the trading tools.

2. Click the “Transfer” button.

3. Set the transfer direction (Spot → Perpetual or vice versa).

4. Select the token to transfer.

5. Enter the amount and click “Transfer.”

Internal transfers update instantly with no gas fees.

Trading Perpetuals on Aster DEX

Aster DEX offers 93+ perpetual contracts for crypto, forex, and stocks with up to 100x leverage. Fees are competitive: 0.035% maker and 0.01% taker.

1. Visit the official site and connect your wallet (use a referral link if available).

2. Click the “Perpetual” tab.

3. Select a trading pair from the “Asset” menu.

4. Choose an order type (Market or Limit) from the right-hand side.

5. Set the margin type (Cross or Isolated) and leverage (up to 100x).

6. Enter the entry price and trade size.

7. Click “Buy/Long” or “Sell/Short” and confirm in your wallet.

For high-leverage 1001x mode, switch to the “1001x” tab; it supports BTC/ETH pairs with up to 1000x leverage for high-risk traders.

Trading Spot on Aster DEX

 Spot trading offers 8+ crypto pairs with fees of 0.10% maker and 0.04% taker. The native $ASTER token can be purchased on the platform.

1. Click the “Spot” tab.

2. Select a token from the “Asset” menu.

3. Choose an order type (Market or Limit) from the right-hand side.

4. Enter the trade amount or use the percentage toggle.

5. Click “Buy” or “Sell” and confirm in your wallet.

Aster DEX provides a robust decentralized exchange experience for both spot and derivatives trading. With multi-chain support, low fees, and high leverage options, it stands out as a compelling alternative, especially for professional traders.

For beginners, wallet connection and deposit-withdrawal processes may seem complex, but following the steps makes it straightforward.

Also, click to read our project review article titled “What is AsterDEX?”

Aster DEX & $ASTER Token: APX Migration Explained

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The post What is Aster DEX? How to Use It? appeared first on Coin Engineer.

#Ethereum saw about ~110K $ETH ($181M) move off of exchanges Wednesday, the largest outflow day since August 21st. The amount of non-exchange Ethereum now sits at an #AllTimeHigh 115.88M $ETH, while its exchange supply is at its lowest in ~5.5 years. https://t.co/PUOWGt0KS0 pic.twitter.com/u54pp6LZij

— Santiment (@santimentfeed) October 5, 2023

Recently, there has been a noticeable increase in the amount of ETH withdrawn from exchanges. According to Santiment’s data, the amount of ETH held in wallets outside of exchanges has also reached a record 115.88 million. Based on this data, it appears that the amount of ETH currently on exchanges has fallen to its lowest level in the last five years.

Withdrawal of crypto assets from exchanges usually occurs during periods when there is an expectation of a price increase in the relevant asset. Rarely do individuals withdraw assets when they experience a decrease in trust in exchanges. However, in the current situation, the absence of a risk towards crypto exchanges indicates that the first option is more likely. Observers haven’t noted a significant Ethereum price movement yet.

Following the rise last week, ETH climbed to $1,700 levels, and this week it continues to pressure selling. In the last 24 hours, we noticed a slowdown in sales, and they dropped below $1,640.

The most recent development in the Ethereum market was the introduction of several Ethereum ETF products. Contrary to expectations, market observers noted that Ethereum-based futures ETF products have generated low trading volumes thus far.

Meanwhile, demand for other investment products based on Ethereum has been on a downward trend since the beginning of the year. According to CoinShares data, the demand for Solana-based investment products among major altcoins, although low, continues to increase.

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The post Highest Ethereum Exchange Exit! appeared first on Coin Engineer.

Balancer depositors’ swift exodus: a decline of nearly $100 million as the withdrawal frenzy hits “There’s a rapid exodus underway,” revealed Xeonus, an anonymous contributor. As a result of this withdrawal frenzy, the protocol’s total value locked (TVL) experienced a staggering decline of nearly $100 million on Tuesday.

You might like: What is Barcelona Fan Token ($BAR)?

Balancer’s Critical Bug Sparks Urgent Response: User-Initiated Withdrawals

Balancer, a decentralized trading platform known for its unique approach to user-contributed liquidity pools, recently discovered a critical bug in its high-interest-paying boosted pools. Upon discovering this critical vulnerability, the Balancer community, under the governance of BAL token holders, swiftly sprang into action, implementing a comprehensive protocol-wide lockdown.

The Balancer crisis response team promptly took action, suspending numerous pools to prevent any potential asset drainage. Yet, amid these efforts, certain pools stubbornly clung to their vulnerability, resisting any attempt at a pause, and thereby, heightening the risk substantially. In response to this situation, Xeonus, a representative from the project, emphasized the importance of securing these at-risk pools through user-initiated withdrawals.

Approximately $10 million is still potentially vulnerable in Balancer, as 1.4% of its total value is at risk.

While the precise bug details remain undisclosed to the public, the project team intends to release a post-mortem analysis once the situation stabilizes. They have already taken emergency measures to secure at least 80% of the affected assets.

Investors in BAL Express concerns amid controlled turmoil the token’s current trading price stands at $3.44, down from its earlier position of $3.55 before the announcement. “We’re holding steady,” Xeonus assures. “All our partners are fully briefed, and no funds have been compromised at this point.”

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The post Balancer Depositors Withdraw $100M Amid Vulnerability Alert! appeared first on Coin Engineer.